💨 Abstract
Oil prices dropped 2% on Monday, erasing last week's gains, due to OPEC lowering its 2024 and 2025 oil demand growth view for the third time. China's oil imports fell for the fifth consecutive month, and its stimulus plans failed to boost investor confidence. The market also remains cautious about potential Israeli attacks on Iranian oil infrastructure. Brent crude and West Texas Intermediate prices fell by 2.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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